SoFi student loan refinancing

SoFi is a marketplace lender that issues more than $5 billion in loans. Its products include personal loans, student loan refinancing, mortgages and mortgage refinancing. When you take out a loan with SoFi you’re also joining a community of over 275,000 members.Using SoFi to refinance your student loans can save you money in the long run, especially if your current loans have high interest rates.

The best part: you can get your rates online in two minutes.

SoFi Student Loan Refinancing

SoFi can consolidate and refinance both federal and private student loans.

Features of refinancing your student loans with SoFi

Some of the key features of refinancing your student loans with SoFi are:

No application or origination fees.

Customer support. Available seven days a week by phone, email, chat or social network platforms.

Federal and private loan consolidation and refinancing.

Unemployment protection. If you lose your job by no fault of your own, SoFi will temporarily hold your loan payments. It’ll even help with your job search.

Career support. No matter where you are in your career, SoFi offers advice, salary negotiation tactics, personal brand building and more.

Wealth advisors. If you’re looking to invest or create a financial plan, advisors are on hand to help.

Online and in-person community. SoFi is member-based and puts on events like happy hours.

What other products does SoFi offer?

SoFi also offers:

Mortgage loans. Buy a home with as little as 10% down, with flexible debt-to-income limits. You’ll also avoid application and loan origination fees.

Mortgage refinancing. Paying too much interest on your existing mortgage? The refinancing process takes fewer than 30 days, and you can learn how much you prequalify for even before submitting a complete application.

Disclaimer

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions.

If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions.

SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Finance Lender Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)

Not all borrowers receive the lowest rate. If approved for a loan, the fixed or variable interest rate offered will depend on your creditworthiness, and the term of the loan and other factors, and will be within the ranges of rates listed above. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases.

The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

To check the rates and terms you qualify for, SoFi conducts a soft credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi to show you what rates and terms SoFi can offer you up front. After seeing your rates, if you choose a product and continue your application, SoFi will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit inquiry. Hard credit inquiries (or hard credit pulls) are required for SoFi to be able to issue you a loan. In addition to requiring your explicit permission, these credit pulls may impact your credit score.

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